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The Madras High Court bench has ruled that if a debtor failed to settle the loan dues despite reminders from the money could be recovered from his saving bank account.
A writ petition has been dismissed by Justice M Venugopal filed by a retired Tamil Nadu Electricity Board employee who sought to restrain a nationalised bank from recovering the farm loan dues from his pension amount in the savings bank account.
It was observed by the court that the bank was right in recovering the due amount from his savings bank account as per the mandate given by him at the time of availing the loan.
